Local hero saves day as no-account villain skips town

As far as banks go this one was an odd sight: plenty of staff looking relaxed and unhurried, fresh flowers, clean carpet, pens still attached to their chains and no queues.

And this was indeed different: Sydney's first community bank opened at Galston, in Sydney's north-west, yesterday with 370 accounts and $6.5million in its slush fund.

Other community branches are due to open this year in Homebush, Clovelly, North Richmond, Strathfield, Harbord and Braidwood, in the state's south-east.

The Galston bank is run by a community company, Galston Financial Services, and backed by Bendigo Bank, which entered the fray after the local National Australia Bank closed in September.

That left locals facing a 10-minute car trip to Dural to do their banking. ");document.write("

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The manager of the new bank, Steve Talbot, said: "The community has got totally got behind us. What we are trying to do is get an alternative banking service with a presence in the community. In a village like ours, people like a personal touch."

Sue Farley, owner of the local nursery, was the bank's first customer yesterday.

"I like the bank because it's just across the road," she said.

"It was difficult after the National Australia Bank left because we needed to use the bank daily to deposit takings and get change."

Ms Farley said the public's distaste for mainstream banking had played a big part in the growth of community banks.

"I hate the fact that large banks are low on service and impersonal. They seem to think that we are happy dealing with a machine."

Russell Becker, who runs the local service station, praised the bank's community values.

"They are putting back into the local community. As a show of support I have transferred my personal and home loans here from Westpac."

Of profits made by the bank, 50 per cent will go to Bendigo Bank, 40 per cent to the local community and 10 per cent to the bank's shareholders.

The chairman of Galston Financial Services, Ralph Steele, said it would probably take the bank 18 months to show a healthy profit.

Community organisations expected to benefit from its presence include the local school and sporting clubs.

Only two doors away from the bank, local butcher Craig Bell said he would be using it as a time-saver.

"I want to spend as little time as possible in the bank."

If its opening day popularity holds, it seems the lack of queues at the community bank may be short lived.